SPX Technologies, Inc. $SPXC Shares Sold by Tema Etfs LLC

Tema Etfs LLC trimmed its position in shares of SPX Technologies, Inc. (NYSE:SPXC) by 9.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,637 shares of the company’s stock after selling 3,883 shares during the quarter. Tema Etfs LLC owned 0.08% of SPX Technologies worth $6,656,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kennedy Capital Management LLC raised its holdings in SPX Technologies by 271.0% in the second quarter. Kennedy Capital Management LLC now owns 70,191 shares of the company’s stock valued at $11,770,000 after acquiring an additional 51,273 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of SPX Technologies by 37.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 231,673 shares of the company’s stock valued at $43,272,000 after purchasing an additional 63,174 shares during the last quarter. Moody Aldrich Partners LLC raised its holdings in shares of SPX Technologies by 18.8% in the 3rd quarter. Moody Aldrich Partners LLC now owns 33,475 shares of the company’s stock valued at $6,252,000 after purchasing an additional 5,290 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of SPX Technologies in the 2nd quarter valued at $218,000. Finally, Advisors Asset Management Inc. lifted its position in shares of SPX Technologies by 43.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 16,766 shares of the company’s stock worth $2,811,000 after purchasing an additional 5,072 shares during the last quarter. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at SPX Technologies

In related news, insider J Randall Data sold 12,000 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $215.37, for a total transaction of $2,584,440.00. Following the completion of the sale, the insider directly owned 38,020 shares of the company’s stock, valued at $8,188,367.40. This trade represents a 23.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John William Swann III sold 38,755 shares of SPX Technologies stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $206.07, for a total transaction of $7,986,242.85. Following the completion of the transaction, the insider owned 64,266 shares in the company, valued at approximately $13,243,294.62. This trade represents a 37.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on SPXC. Truist Financial increased their target price on SPX Technologies from $215.00 to $216.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Cowen reissued a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. B. Riley restated a “buy” rating and set a $244.00 target price (up previously from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. TD Cowen started coverage on shares of SPX Technologies in a research note on Monday, November 10th. They issued a “hold” rating and a $225.00 price target on the stock. Finally, Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.14.

SPX Technologies Price Performance

Shares of NYSE:SPXC opened at $207.35 on Monday. SPX Technologies, Inc. has a one year low of $115.00 and a one year high of $233.71. The stock has a market capitalization of $10.33 billion, a price-to-earnings ratio of 44.40, a PEG ratio of 1.74 and a beta of 1.33. The company has a 50-day simple moving average of $210.95 and a 200-day simple moving average of $194.55. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.70 and a current ratio of 2.47.

SPX Technologies (NYSE:SPXC) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.24. The firm had revenue of $592.80 million for the quarter, compared to analysts’ expectations of $574.32 million. SPX Technologies had a return on equity of 18.68% and a net margin of 10.33%.During the same quarter in the previous year, the firm posted $1.39 EPS. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, analysts predict that SPX Technologies, Inc. will post 5.57 EPS for the current year.

About SPX Technologies

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.